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Target costing for the purpose of generic strategies' realization
Univeristy of Niš, Faculty of Economy,
Improving competitiveness of public and private sector by networking competences in the process of european integrations of Serbia (MESTD - 179066)

Keywords: strategy; differentiation; focus; product-level target costing; component-level target costing
A highly competitive market creates the need for constant search for the ways in which the companies could create and offer products with unique features and at a lower price than it would be the case with the competition. Competitive advantage and better market position depend on the choice of appropriate strategy. Companies are in a position to select some generic strategies. The concept of target costing is a part of the strategic process of cost management and company management. It is based on the attempts to create low-cost product by managing costs in the phase preceding the production phase, without endangering the product's functionality and usefulness for the buyers. Therefore, this concept offers a solid information basis for the realization of generic strategies of a company.
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article language: English
document type: unclassified
published in SCIndeks: 12/01/2012

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